Xi visits Shenzhen, China's reform showcase: five things to know

Beijing plans for international business hub put Hong Kong under pressure

20201013 Xi Shenzhen

(Source photos by Reuters and Getty Images)  

CK TAN and MICHELLE CHAN, Nikkei staff writers

SHANGHAI/HONG KONG -- China has unveiled a long-term plan for Shenzhen ahead of President Xi Jinping's visit on Wednesday for the celebration of Shenzhen Special Economic Zone's 40th anniversary.

Touted as the country's symbol of reform and market liberalization, the government is proposing to turn Shenzhen into a hub of innovation that will draw entrepreneurs. It hopes the area will benefit from "international influence" based on socialist principles, according to Xinhua.

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